Democrats, White House Hopeful About Small Business Deal That Includes $75B For Hospitals, $25B To Expand Testing
Democrats and Republicans have been at an impasse at how to supplement the fund to help small businesses, which was depleted last week. The new bill proposes an additional $300 billion for that fund.
The New York Times:
White House And Democrats Near Deal On Aid For Small Businesses
The White House and congressional Democrats on Sunday closed in on an agreement for a $450 billion economic relief package to replenish a depleted emergency fund for small businesses and to expand coronavirus testing around the country, with votes on the measure possible early this week. Treasury Secretary Steven Mnuchin described the broad outlines of the package in an appearance on CNN on Sunday. The agreement would include $300 billion to replenish the emergency fund, called the Paycheck Protection Program; $50 billion for the Small Business Administration’s disaster relief fund; $75 billion for hospitals and $25 billion for testing. (Stolberg and Rappeport, 4/19)
The Associated Press:
Trump, Congress Near Deal On Small Business, Hospital Aid
The Senate is scheduled for a pro forma session Monday, but no vote has been set. The House announced it could meet as soon as Wednesday for a vote on the pending package, according to a schedule update from Majority Leader Steny Hoyer, D-Md. With small-business owners reeling during a coronavirus outbreak that has shuttered much economic activity, Treasury Secretary Steven Mnuchin said he was hopeful of a deal that could pass Congress quickly and get the Small Business Administration program back up by midweek. (Yen and Mascaro, 4/20)
The Washington Post:
Trump Administration, Congressional Leaders Close To Deal On Billions In New Virus Aid
The deal would add about $310 billion to the Paycheck Protection Program for small businesses, which was swamped by demand in the three weeks since Congress created it as part of a $2 trillion coronavirus rescue bill. It also would add $60 billion to a separate emergency loan program for small businesses that is out of money, too, Senate Minority Leader Charles E. Schumer (D-N.Y.) said on CNN. (Werner and Stein, 4/19)
Politico:
Congress, Trump Administration Close To Deal On New Aid Package
Congress has faced pressure to pass PPP funding unanimously, as soon as possible. That pressure has mounted with reports that more than 22 million Americans have lost their jobs over the past month. But Democrats want some of the money to be set aside for communities with few banking institutions. And they’ve pushed for more money for state governments, local governments and hospitals. Any member can object to a deal, so congressional leaders would need to run it by their members to see how to pass the legislation. It’s an open question whether the bill would require a roll call vote if someone objected to its passage. (McCaskill, Everett and Dugyala, 4/19)
The Wall Street Journal:
Mnuchin, Democrats Say They Are Close On Small-Business Funding Agreement
Mr. Mnuchin said the agreement was expected to include $75 billion for hospitals and $25 billion to expand testing for the virus nationwide, which Democrats have pressed for. The small-business relief, known as the Paycheck Protection Program, was part of the roughly $2 trillion stimulus bill and is aimed at helping firms cover payroll and other essential expenses for roughly two months. Loans can be forgiven if businesses maintain the size of their workforce. (Peterson, 4/19)
NPR:
Mnuchin: Agreement On $300 Billion For Small-Business Loan Program
"I think we're making a lot of progress," Mnuchin said on Sunday, noting that he has had multiple conversations with Senate and House leadership in recent days. He later added, "I'm hopeful we could get a deal done today." (Grisales, 4/19)
In other news from Capitol Hill —
The New York Times:
No Fight Over Red Ink Now, But Virus Spending Will Force Tough Choices
The deficit hawks have had their wings clipped. No one wants to hear alarms raised about the dangers of staggering government spending during a monstrous threat to public health and the economy. Any such concerns have been silenced and set aside as the federal government throws open the spigots in an unstinting effort to protect both American lives and the nation’s financial underpinnings. “It hasn’t been a prominent topic of conversation, I think it is fair to say,” conceded Senator Patrick J. Toomey, Republican of Pennsylvania and a longtime fiscal conservative, about the potential hazards of compounding an already spiraling federal deficit in response to a crippling pandemic. (Hulse, 4/18)
Politico:
A Watchdog Out Of Trump's Grasp Unleashes Wave Of Coronavirus Audits
Lawmakers handed President Donald Trump $2 trillion in coronavirus relief — and then left town without activating any of the powerful new oversight tools meant to hold his administration accountable. But with little fanfare, Congress’ independent, in-house watchdog is preparing a blizzard of audits that will become the first wide-ranging check on Trump’s handling of the sprawling national rescue effort. (Cheney, 4/20)
Modern Healthcare:
CARES Act Grants Could Spark False Claims Act Issues
While CMS Administrator Seema Verma touted that Congress' COVID-19 provider grant funds would have "no strings attached," agreeing to the assistance could open providers up to False Claims Act liability risks. Many providers on April 10 received part of a $30 billion fund created in the Coronavirus Aid, Relief, and Economic Security Act, as well as a list of terms and conditions from HHS for keeping the money. (Cohrs, 4/18)
